Cambridge Book Discount Alert Company Is Expanding
BOSTON (CBS) -- A 2-year-old Cambridge start-up with just 20 employees has raised nearly $4 million in its first round of funding from investors.
WBZ NewsRadio 1030's New England Business Editor Anthony Silva reports
Book Bub, an online discount alert service, sends out free alerts for the 10 best e-book buys to its growing list of $3 million members.
Leading the round, Next View Ventures in Boston and Founder Collective in Cambridge. Until now, the company was completely bootstrapped, meaning it was self-funded.
Co-Founder and President Josh Schanker tells WBZ NewsRadio 1030's New England Business Editor Anthony Silva, Book Bub has grown very quickly.
"We have about 3 million members who have signed up to receive our daily email which alerts them to the best e-book deals that are out there," Schanker tells WBZ NewsRadio 1030. "All of our publishing partners tell us the deals they are offering and we select the 10-percent we think are best and those publishers and authors pay a fee to be featured."
Schanker says the funding will finance an expansion at the company which is hiring in most departments.